CenterPoint Energy implements independent board leadership and governance structure
2021-07-22T05:00:00Z

Houston – July 22, 2021 – CenterPoint Energy, Inc. (NYSE: CNP) ("CenterPoint" or the "Company") today announced the unanimous decision of the CenterPoint Board's Independent Directors to implement a new independent board leadership and governance structure. The Board named Martin Nesbitt, chair of the Nominating and Governance Committee, as its new independent board chairman, effective immediately.

  • Martin Nesbitt appointed as Independent Chairman of the Board, effective immediately
  • Independent directors eliminate Executive Chairman role
  • Milton Carroll to depart from Executive Chairman position, effective immediately, and from the Board on September 30 
  • Independent directors implement a multi-year retention arrangement for President and CEO Dave Lesar

To institute the Company's new governance structure, this independent seat replaces the position of Executive Chairman. This position has been eliminated by the independent directors of the board, effective immediately. In connection with these decisions by the independent directors, Milton Carroll departs from the Executive Chairman position and as an employee of the Company, effective immediately, and from the Board as a director, effective September 30 of this year, each substantially in advance of Mr. Carroll's current mandatory retirement date in 2023.

CenterPoint's Board, based on extensive feedback from shareholders and evaluation of evolving governance practices, determined that now is the right time to execute this significant leadership and governance transition as the company continues to advance its well-received strategic plan to drive sustainable value for the benefit of all its stakeholders. In connection with today's leadership and governance transition, the Company entered into a multi-year retention grant arrangement with President and CEO Dave Lesar to retain his continued leadership, and to provide executive management continuity, drive successful execution of CenterPoint's value-creation strategy, and provide executive leadership succession planning. The arrangements entered into with Mr. Carroll and Mr. Lesar will be publicly filed on Form 8-K.

Mr. Nesbitt said, "CenterPoint is a backbone of economic vitality and reliable energy delivery for the communities we serve, and CenterPoint's importance is a central part of Milton Carroll's legacy. As we continue to seize opportunities ahead of us, I believe that our unique value proposition will be further strengthened by CenterPoint's commitment to strong corporate governance, including through the leadership and governance transition we announce today. I am honored to have been selected to lead CenterPoint as independent Chairman of the Board and on behalf of the Board, we express our deepest gratitude and respect for Milton, who has served CenterPoint and its stakeholders tirelessly for nearly 30 years. Milton has been a steady source of inspiration, leadership and guidance to all who have known him, and his stewardship and commitment to CenterPoint's success have been unmatched. Milton was instrumental in the creation of CenterPoint, provided initial board leadership and with the help of many others, navigated CenterPoint through the difficult transition of the early days of the deregulation of the Texas electrical market. He then helped lead the company to where it is today – stronger than ever, with a market capitalization near its historic high. I look forward to continuing to work closely with our incredible CEO Dave Lesar, who has demonstrated tremendous energy and accomplishment since he became CEO only a year ago."

Mr. Carroll said, "In the nearly 30 years since I joined CenterPoint's Board in 1992 and during my time as Executive Chairman of the Board, CenterPoint has successfully navigated industry, energy and regulatory challenges, business transitions and changes in our nation and communities. Thanks to our great CenterPoint team, we are an indelible part of the fabric and history of Texas and the other territories we serve. I am excited to see how CenterPoint continues to evolve under the leadership of Marty and Dave and reach even greater heights of potential and promise. It has been an honor to serve as Chairman and then Executive Chairman alongside my fellow directors."

Mr. Lesar said, "We have been on a very focused mission over the past year to unlock the untapped power and potential within this company, its premium regulated utilities and its exceptional talent. Milton has been a critical partner throughout this journey, and with our utility-focused strategy, we are now taking advantage of the robust capital investment opportunities available to us and are firmly on the path to exit our midstream investments and progress our renewable energy growth objectives. I believe the best is yet to come, and I couldn't be more excited to continue my commitment to CenterPoint's future success and the development of its next phase of leadership over the coming years. On behalf of myself and all our employees, I am deeply grateful to Milton for laying CenterPoint's strong foundation and positioning the company so well for this new era. I am excited for our future and look forward to discussing our second quarter results."

About Marty Nesbitt

Martin H. Nesbitt has been a director since April 2018 and will now serve as the independent Chairman of CenterPoint's Board. Since 2013, he has served as Co-Chief Executive Officer of The Vistria Group, LLC, a Chicago-based investment firm focused on the education, healthcare and financial services industries. Prior to co-founding Vistria, Mr. Nesbitt served as Chief Executive Officer of PRG Parking Management (known as The Parking Spot), an owner and operator of off-airport parking facilities, from 1996 to 2012. Prior to The Parking Spot, Mr. Nesbitt also served as officer of the Pritzker Realty Group, L.P. and as Vice President and Investment Manager at LaSalle Partners, with a variety of responsibilities including investment management for regional retail properties. Mr. Nesbitt has served on the Boards of Directors of American Airlines Group, Inc. since 2015 and Chewy, Inc. since 2020. He also previously served on the Board of Directors of Jones Lang LaSalle.  He is a Trustee of Chicago's Museum of Contemporary Art and serves as Chairman of the Barack Obama Foundation. He previously served as a director of Norfolk Southern Corporation from 2013 to May 2019.

About CenterPoint Energy, Inc.

As the only investor-owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Arkansas, Indiana, Louisiana, Minnesota, Mississippi, Ohio, Oklahoma and Texas. As of March 31, 2021, the company owned approximately $36 billion in assets and also owned 53.7 percent of the common units representing limited partner interests in Enable Midstream Partners, LP, a publicly traded master limited partnership that owns, operates and develops strategically located natural gas and crude oil infrastructure assets. With approximately 9,500 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

Forward Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "continue," "could," "expect," "intend," "may," "plan," "potential," "should," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as executive management continuity and succession planning, the benefits of leadership and governance transitions, corporate governance commitments, strategic plans and value creation, capital investments, business opportunities, future financial performance and results of operations, expectations regarding our midstream investments and renewable energy growth objectives, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; and (8) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, CenterPoint Energy's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.

 

 Recent News

 

 
CenterPoint Energy prepares for cold weather ahead of forecasted wintry precipitation across Texas and continues to closely monitor potential for severe winter conditions

HOUSTON – Jan. 20, 2026 – With winter precipitation and freezing temperatures in the low 20s forecasted to impact CenterPoint Energy’s service territory in Texas over the weekend and into next week, the company’s Emergency Response & Preparedness, Electric Operations, Gas Operations and Meteorology teams continue actively monitoring weather models and preparing for cold and potentially icy conditions. Both Electric and Natural Gas teams across CenterPoint’s Texas footprint are engaged in coordinated efforts to maintain readiness and address potential service impacts.

“We continue to diligently monitor the evolving weather forecasts across the communities we serve in Texas ahead of this weekend’s potential winter weather. Our teams are well prepared, executing work in advance and will be ready to respond to any impacts from the forecasted conditions, including icy weather, high winds and wintry precipitation,” said Don Daigler, CenterPoint’s Senior Vice President, Emergency Preparedness and Response. “We will remain alert throughout the week and continue to coordinate with local officials as our communities take steps to prepare. We urge our customers to stay weather alert as conditions continue to develop and have an emergency plan in place.”

Cold weather preparations
The company is prepared to respond to cold weather and has performed a series of proactive pre-winter preparedness actions to strengthen and winterize its electric and natural gas infrastructure across Texas, as well as inspect and test cold-weather critical equipment ahead of potential severe cold weather. CenterPoint is also deploying cold weather mitigations across its electric and gas infrastructure, developing plans to mobilize emergency response resources and coordinating with relevant local emergency responders and government officials in preparation. 

The pre-winter safety and readiness actions taken by CenterPoint include:

  • Inspecting and testing critical equipment, including all 270 electric substations, to prepare for high demand and cold temperatures;
  • Communicating and coordinating with the Texas Public Utility Commission and ERCOT about statewide energy needs;
  • Hardening electric and natural gas infrastructure across the Greater Houston area, including installing heaters and devices to prevent ice damage or buildup;
  • Maintaining freeze protection equipment and enclosures for cold-weather critical components;
  • Repairing thermal insulation and water-proofing materials;
  • Positioning Compressed Natural Gas (CNG) trucks to be deployed to supplement the natural gas system, if needed;
  • Coordinating and communicating with the Railroad Commission of Texas to identify and support operations of critical gas infrastructure for natural gas reliability;
  • Monitoring more than 100 weather stations across the Greater Houston area to enhance situational awareness and storm preparation;
  • Donated and installed more than 20 emergency backup generators at key locations across Greater Houston to improve local emergency preparedness and response efforts; and
  • Conducted more than 19,000 total hours of emergency training in 2025 for hundreds of operational, emergency response and other personnel and contractors to strengthen severe weather preparation and response efforts.

The current weather forecast for CenterPoint’s Houston electric service territory indicates the potential for ice accumulation next weekend, subject to updated forecasts. The company reminds customers and community members to always assume downed lines or wires are energized and potentially dangerous if contacted. Stay at least 35 feet away from downed power lines or fallen wires and keep a safe distance from objects touching downed lines (tree limbs, vehicles, fences, etc.) and immediately report downed power lines to CenterPoint. 

Winter Energy Guide
CenterPoint’s Winter Energy Guide is a comprehensive online resource hub featuring safety, energy savings and bill management tips to help customers stay safe and warm throughout the winter season. CenterPoint encourages customers to use this helpful resource to create their own cold weather plans and stay prepared. To learn more, visit CenterPointEnergy.com/ReadyforWinter.

Stay informed with Power Alert Service®
CenterPoint electric customers are encouraged to enroll in the company's Power Alert Service® to receive winter storm outage details, estimated restoration times and customer-specific restoration updates by phone call, text or email.

Have a plan and stay safe
CenterPoint encourages customers to prepare and have a plan to stay safe during severe winter weather. Customers can get storm-related safety tips at CenterPointEnergy.com/ActionCenter — available in English, Spanish and Vietnamese.

Customers can also stay up to date on outages with CenterPoint’s Outage Tracker, available in English and Spanish. The Outage Tracker is built to handle increased traffic during storms, is mobile-friendly, accessible for those with disabilities and allows customers to see outages by county, city and zip code.

For the latest updates, follow CenterPoint on X and visit CenterPointEnergy.com/ActionCenter. 

 

About CenterPoint Energy, Inc.
As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Minnesota, Ohio and Texas. As of September 30, 2025, the company owned approximately $45 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

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As part of its commitment to helping support local communities, CenterPoint Energy Foundation opens its first grant cycle of 2026

DAYTON, Ohio — Jan. 15, 2026 — The CenterPoint Energy Foundation is currently accepting applications through Feb. 13 for nonprofit programs and initiatives focused on education including literacy, science-technology-engineering-mathematics (STEM) and workforce development.

Grants are available for eligible nonprofit organizations whose primary location is in CenterPoint Energy's service areas and have programs supporting the Foundation's giving priorities. The Foundation prioritizes programs serving low-to-moderate income families and under-resourced communities.  

Funded separately and financially independent from the utility, the CenterPoint Energy Foundation strives to be a catalyst for good by leveraging everyday opportunities and resources to increase the vibrancy in the communities it serves.   

“The CenterPoint Energy Foundation creates positive, meaningful change within the communities where we have the privilege to provide electric and natural gas service," said June Deadrick, Vice President, Community Relations at CenterPoint Energy. “The Foundation remains committed to initiatives and programs enriching the lives of those living and working within our service areas, while powering possibilities for a better tomorrow. We encourage qualified nonprofit organizations focusing on education to apply for a grant through Feb. 13." 

During its two grant cycles in 2025, the CenterPoint Energy Foundation awarded more than $13.9 million for approximately 430 grants to nonprofit organizations in Texas, Minnesota, Indiana and Ohio, with efforts expected to:

  • Supply nearly 2 million free books to kids.
  • Support more than 625,000 hours of tutoring for students.
  • Enable approximately 42,000 students to receive a certificate or credential for career pathways.
  • Deliver over 120,000 science-technology-engineering-math (STEM) kits and projects to students.
  • Fund more than 3,700 career exposure or exploration events.

 
The second Foundation grant cycle of the year will open in June 2026 and focus on community vitality initiatives, such as affordable housing, environmental stewardship and enhancing community outdoor spaces.

To learn more and apply for a grant, visit CenterPointEnergy.com/Foundation. 

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About the CenterPoint Energy Foundation
The CenterPoint Energy Foundation provides philanthropic support to meet the needs of communities where CenterPoint Energy customers live and work. The Foundation is funded by shareholders and has no impact on customer rates. More information about the Foundation can be found at CenterPointEnergy.com/Foundation.
 

About CenterPoint Energy, Inc.
As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Minnesota, Ohio and Texas. As of September 30, 2025, the company owned approximately $45 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.​

As part of its commitment to helping support local communities, CenterPoint Energy Foundation opens its first grant cycle of 2026

​MINNEAPOLIS — Jan. 15, 2026 — The CenterPoint Energy Foundation is currently accepting applications through Feb. 13 for nonprofit programs and initiatives focused on education including literacy, science-technology-engineering-mathematics (STEM) and workforce development.

Grants are available for eligible nonprofit organizations whose primary location is in CenterPoint Energy's service areas and have programs supporting the Foundation's giving priorities. The Foundation prioritizes programs serving low-to-moderate income families and under-resourced communities.  

Funded separately and financially independent from the utility, the CenterPoint Energy Foundation strives to be a catalyst for good by leveraging everyday opportunities and resources to increase the vibrancy in the communities it serves.   

“The CenterPoint Energy Foundation creates positive, meaningful change within the communities where we have the privilege to provide electric and natural gas service," said June Deadrick, Vice President, Community Relations at CenterPoint Energy. “The Foundation remains committed to initiatives and programs enriching the lives of those living and working within our service areas, while powering possibilities for a better tomorrow. We encourage qualified nonprofit organizations focusing on education to apply for a grant through Feb. 13." 

During its two grant cycles in 2025, the CenterPoint Energy Foundation awarded more than $13.9 million for approximately 430 grants to nonprofit organizations in Texas, Minnesota, Indiana and Ohio, with efforts expected to:

  • Supply nearly 2 million free books to kids.
  • Support more than 625,000 hours of tutoring for students.
  • Enable approximately 42,000 students to receive a certificate or credential for career pathways.
  • Deliver over 120,000 science-technology-engineering-math (STEM) kits and projects to students.
  • Fund more than 3,700 career exposure or exploration events.

 
The second Foundation grant cycle of the year will open in June 2026 and focus on community vitality initiatives, such as affordable housing, environmental stewardship and enhancing community outdoor spaces.

To learn more and apply for a grant, visit CenterPointEnergy.com/Foundation. 

###

About the CenterPoint Energy Foundation
The CenterPoint Energy Foundation provides philanthropic support to meet the needs of communities where CenterPoint Energy customers live and work. The Foundation is funded by shareholders and has no impact on customer rates. More information about the Foundation can be found at CenterPointEnergy.com/Foundation.

About CenterPoint Energy, Inc.
As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Minnesota, Ohio and Texas. As of September 30, 2025, the company owned approximately $45 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.

As part of its commitment to helping support local communities, CenterPoint Energy Foundation opens its first grant cycle of 2026

HOUSTON — Jan. 15, 2026 — The CenterPoint Energy Foundation is currently accepting applications through Feb. 13 for nonprofit programs and initiatives focused on education including literacy, science-technology-engineering-mathematics (STEM) and workforce development.

Grants are available for eligible nonprofit organizations whose primary location is in CenterPoint Energy's service areas and have programs supporting the Foundation's giving priorities. The Foundation prioritizes programs serving low-to-moderate income families and under-resourced communities.  

Funded separately and financially independent from the utility, the CenterPoint Energy Foundation strives to be a catalyst for good by leveraging everyday opportunities and resources to increase the vibrancy in the communities it serves.   

“The CenterPoint Energy Foundation creates positive, meaningful change within the communities where we have the privilege to provide electric and natural gas service," said June Deadrick, Vice President, Community Relations at CenterPoint Energy. “The Foundation remains committed to initiatives and programs enriching the lives of those living and working within our service areas, while powering possibilities for a better tomorrow. We encourage qualified nonprofit organizations focusing on education to apply for a grant through Feb. 13." 

During its two grant cycles in 2025, the CenterPoint Energy Foundation awarded more than $13.9 million for approximately 430 grants to nonprofit organizations in Texas, Minnesota, Indiana and Ohio, with efforts expected to:

  • Supply nearly 2 million free books to kids.
  • Support more than 625,000 hours of tutoring for students.
  • Enable approximately 42,000 students to receive a certificate or credential for career pathways.
  • Deliver over 120,000 science-technology-engineering-math (STEM) kits and projects to students.
  • Fund more than 3,700 career exposure or exploration events.

The second Foundation grant cycle of the year will open in June 2026 and focus on community vitality initiatives, such as affordable housing, environmental stewardship and enhancing community outdoor spaces.

To learn more and apply for a grant, visit CenterPointEnergy.com/Foundation. 

###

About the CenterPoint Energy Foundation
The CenterPoint Energy Foundation provides philanthropic support to meet the needs of communities where CenterPoint Energy customers live and work. The Foundation is funded by shareholders and has no impact on customer rates. More information about the Foundation can be found at CenterPointEnergy.com/Foundation.

About CenterPoint Energy, Inc.
As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Minnesota, Ohio and Texas. As of September 30, 2025, the company owned approximately $45 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com. ​

As part of its commitment to helping support local communities, CenterPoint Energy Foundation opens its first grant cycle of 2026

EVANSVILLE, Ind. — Jan. 15, 2026 — The CenterPoint Energy Foundation is currently accepting applications through Feb. 13 for nonprofit programs and initiatives focused on education including literacy, science-technology-engineering-mathematics (STEM) and workforce development.

Grants are available for eligible nonprofit organizations whose primary location is in CenterPoint Energy's service areas and have programs supporting the Foundation's giving priorities. The Foundation prioritizes programs serving low-to-moderate income families and under-resourced communities.  

Funded separately and financially independent from the utility, the CenterPoint Energy Foundation strives to be a catalyst for good by leveraging everyday opportunities and resources to increase the vibrancy in the communities it serves.   

“The CenterPoint Energy Foundation creates positive, meaningful change within the communities where we have the privilege to provide electric and natural gas service," said Mike Roeder, President of CenterPoint Energy Indiana. “The Foundation remains committed to initiatives and programs enriching the lives of those living and working within our service areas, while powering possibilities for a better tomorrow. We encourage qualified nonprofit organizations focusing on education to apply for a grant through Feb. 13." 

During its two grant cycles in 2025, the CenterPoint Energy Foundation awarded more than $13.9 million for approximately 430 grants to nonprofit organizations in Texas, Minnesota, Indiana and Ohio, with efforts expected to:

  • Supply nearly 2 million free books to kids.
  • Support more than 625,000 hours of tutoring for students.
  • Enable approximately 42,000 students to receive a certificate or credential for career pathways.
  • Deliver over 120,000 science-technology-engineering-math (STEM) kits and projects to students.
  • Fund more than 3,700 career exposure or exploration events.

The second Foundation grant cycle of the year will open in June 2026 and focus on community vitality initiatives, such as affordable housing, environmental stewardship and enhancing community outdoor spaces.

To learn more and apply for a grant, visit CenterPointEnergy.com/Foundation. 

###

About the CenterPoint Energy Foundation
The CenterPoint Energy Foundation provides philanthropic support to meet the needs of communities where CenterPoint Energy customers live and work. The Foundation is funded by shareholders and has no impact on customer rates. More information about the Foundation can be found at CenterPointEnergy.com/Foundation.

About CenterPoint Energy, Inc.
As the only investor owned electric and gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Minnesota, Ohio and Texas. As of September 30, 2025, the company owned approximately $45 billion in assets. With approximately 8,300 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.